Lawmakers Move to Replenish Highway Trust Fund-- Update

TODAY: July 11, 2014 PUB DATE: July 11, 2014

By Siobhan Hughes WASHINGTON--House and Senate lawmakers Thursday advanced measures to replenish the federal fund that finances road, bridge and mass-transit projects before it runs out of money next month. The HouseWays and Means Committee, in a voice vote, approved ...

Australian Mortgage Lending Unchanged in May

TODAY: July 11, 2014 PUB DATE: July 11, 2014

By David Rogers SYDNEY--The number of Australian home-loan approvals was unchanged in May from April, the statistics bureau said Friday. Housing finance approvals were mixed across Australia's various states. Economists surveyed ahead of the announcement had expected a fall of ...

Analysts, Industry Groups Voice Skepticism With Brazil's Stimulus Measures

TODAY: July 11, 2014 PUB DATE: July 11, 2014

By Paulo Trevisani BRASILIA--A package of economic measures announced Wednesday by Brazil's government is being met with skepticism by analysts and industry groups. The package includes incentives for investors to buy corporate bonds and stocks issued to finance infrastructure projects, ...

Yen Steady As Traders See European Bank Problem as Temporary

TODAY: July 11, 2014 PUB DATE: July 11, 2014

By Tatsuo Ito The yen was steady against the euro and the dollar in Asia trading Friday, as traders doubted that the yen's rally overnight prompted by concerns about a Portuguese bank would continue. On Thursday, markets were jolted by ...

Fed's Fischer Signals Support for Bank Oversight Agenda

TODAY: July 11, 2014 PUB DATE: July 11, 2014

Federal Reserve Vice Chairman Stanley Fischer on Thursday signaled support for the central bank's postcrisis regulatory agenda, in his first speech since taking the Fed's No. 2 job. Mr. Fischer praised the Fed's stress-testing program for banks and new requirements ...

New Zealand Food Price Index Rises 1.4% in June

TODAY: July 11, 2014 PUB DATE: July 11, 2014

By Lucy Craymer WELLINGTON, New Zealand--New Zealand's food price index rose 1.4% on the month in June and was up 1.2% on the year, Statistics New Zealand said Friday. "Food prices in June were influenced by seasonally higher prices for ...

Oil Futures Slide as Libya Boosts Oil Production

TODAY: July 11, 2014 PUB DATE: July 10, 2014

By Eric Yep Crude-oil futures extended their sell-off in Asian trading hours Thursday as Libya's oil output ramped up, and after Chinese oil imports in June fell from a month earlier. On the New York Mercantile Exchange, light, sweet crude ...

Fitch Downgrades Puerto Rico General Obligation Bonds

TODAY: July 11, 2014 PUB DATE: July 10, 2014

By Maria Armental Fitch Ratings on Wednesday cut the rating of Puerto Rico's general-obligation bonds one notch, deeper into junk territory, citing the country's outstanding debt and unfunded pensions. The downgrade follows earlier rating cuts from Moody's Investors Service and ...

Bank of Korea Keeps Base Rate Unchanged At 2.5%

TODAY: July 11, 2014 PUB DATE: July 10, 2014

SEOUL--South Korea's central bank on Thursday kept its benchmark interest rate steady at 2.5% as widely expected. The decision to stand pat for the 14th consecutive month comes as a slower-than-expected pace of recovery has lowered market anticipation of a ...

Malaysia June Palm Oil Production, Ending Stocks Down; Exports Up

TODAY: July 11, 2014 PUB DATE: July 10, 2014

By Huileng Tan SINGAPORE--Malaysia's June palm oil production fell 5.3% from a month ago to 1.57 million metric tons, with end-month stocks also falling 10% from May to 1.66 million tons, the Malaysian Palm Oil Board said Thursday. The country ...

French Consumer Prices Flat in June Vs May

TODAY: July 11, 2014 PUB DATE: July 10, 2014

By William Horobin PARIS--French consumer prices stagnated in June from May as a fall in the cost of manufactured goods offset the seasonal increase in services prices, French statistics agency Insee said Thursday. Consumer prices were unchanged in June from ...

China Exports Up 7.2% in June

TODAY: July 11, 2014 PUB DATE: July 10, 2014

BEIJING--Exports from China rose 7.2% year over year in June, data from the General Administration of Customs showed Thursday. Growth was slightly faster than May's 7.0% increase but below a median forecast of 10.0% growth in a poll of 21 ...

French Industrial Output Drops Sharply and Unexpectedly

TODAY: July 11, 2014 PUB DATE: July 10, 2014

By William Horobin PARIS--French industrial production dropped unexpectedly in May as a rebound in energy production was offset by the largest decline in manufacturing output in over 18 months. Industrial production fell 1.7% in May from April, while economists polled ...

Budget Fails To Impress Market, Sensex Ends Down 0.3%

TODAY: July 11, 2014 PUB DATE: July 10, 2014

By Debiprasad Nayak and Kenan Machado MUMBAI--Indian shares dipped and climbed again during the government's budget presentation on Thursday as fears over social spending gave way to relief over tax incentives. But the market ended up down for the day ...

BOE Keeps Rates Unchanged

TODAY: July 11, 2014 PUB DATE: July 10, 2014

By Jason Douglas LONDON--The Bank of England left the U.K.'s benchmark interest rate unchanged Thursday amid criticism that officials are sending confusing signals on when borrowing costs will eventually start to rise. The central bank said its nine-member Monetary Policy ...

Germany Warns Economy Slowed in 2Q

TODAY: July 11, 2014 PUB DATE: July 10, 2014

BERLIN--Germany warned Thursday that its economic growth rate slowed in the second quarter because of the Ukraine-Russia conflict and an unusually weak seasonal pick-up this spring, but it stressed that the economy's overall upward trend was intact. The warning from ...

U.S. Jobless Claims Fell Last Week

TODAY: July 11, 2014 PUB DATE: July 10, 2014

WASHINGTON-New applications for unemployment benefits fell last week, a new sign of an improving labor market. Initial claims for unemployment benefits decreased by 11,000 to a seasonally adjusted 304,000 in the week ended July 5, the Labor Department said Thursday. ...

Greek Jobless Rate Still Over 27%

TODAY: July 11, 2014 PUB DATE: July 10, 2014

ATHENS--Greece's jobless rate in April was still just over 27%, unchanged from an upwardly revised figure a month earlier, showing that a recovery in the country's jobs market continues to languish despite signs the economy is inching its way out ...